Successfully reported this slideshow.
We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. You can change your ad preferences anytime.

Mvp Essentials: The Business Need, Building Blocks and the Best Practices

1,370 views

Published on

It's a great time to be an entrepreneur in the US right now!

The first three quarters of 2015 saw $57.9 billion in startup funding and have already crossed the 2014 level. However, the startup failure rate is at an all-time high, with 9 out of 10 startups failing in their initial stages. What's more intriguing is that according to a survey by CB insights, the number one reason for startup failure was the lack of a market need for their product, followed by running out of funds.

Here is where a lean startup approach can help; entering the market with a Minimum Viable Product (MVP) increases the chance of success for your startup, as it helps in validating the idea at a fraction of the cost and time, one would have invested going in for a complete application.

Now, choosing an MVP approach is only half the battle won, a startup would also need an experienced tech partner, who can bring in a host of valuable experience and expertise for successful planning and designing of the MVP.

Harbinger Systems hosted an insightful webinar on "MVP Essentials: The Business Need, Building Blocks and the Best Practices" on February 24th, 2016. Attendees gained insights on the key considerations in building an MVP followed by the best practices in creating the MVP, using real life case study examples.

Published in: Technology
  • DOWNLOAD FULL BOOKS, INTO AVAILABLE FORMAT ......................................................................................................................... ......................................................................................................................... ,DOWNLOAD FULL. PDF EBOOK here { https://tinyurl.com/yyxo9sk7 } ......................................................................................................................... ,DOWNLOAD FULL. EPUB Ebook here { https://tinyurl.com/yyxo9sk7 } ......................................................................................................................... ,DOWNLOAD FULL. doc Ebook here { https://tinyurl.com/yyxo9sk7 } ......................................................................................................................... ,DOWNLOAD FULL. PDF EBOOK here { https://tinyurl.com/yyxo9sk7 } ......................................................................................................................... ,DOWNLOAD FULL. EPUB Ebook here { https://tinyurl.com/yyxo9sk7 } ......................................................................................................................... ,DOWNLOAD FULL. doc Ebook here { https://tinyurl.com/yyxo9sk7 } ......................................................................................................................... ......................................................................................................................... ......................................................................................................................... .............. Browse by Genre Available eBooks ......................................................................................................................... Art, Biography, Business, Chick Lit, Children's, Christian, Classics, Comics, Contemporary, Cookbooks, Crime, Ebooks, Fantasy, Fiction, Graphic Novels, Historical Fiction, History, Horror, Humor And Comedy, Manga, Memoir, Music, Mystery, Non Fiction, Paranormal, Philosophy, Poetry, Psychology, Religion, Romance, Science, Science Fiction, Self Help, Suspense, Spirituality, Sports, Thriller, Travel, Young Adult,
       Reply 
    Are you sure you want to  Yes  No
    Your message goes here
  • It doesn't matter how long ago you broke up, these methods will make your Ex crawling back! See how at here. ➤➤ http://goo.gl/nkXEkK
       Reply 
    Are you sure you want to  Yes  No
    Your message goes here

Mvp Essentials: The Business Need, Building Blocks and the Best Practices

  1. 1. MVP Essentials: The Business Need, Building Blocks and the Best Practices
  2. 2. Housekeeping • Webinar recordings and slides will be shared with all attendees • Type in your questions and comments using the questions pane on the right hand side • “Special Offer” exclusively for the webinar attendees
  3. 3. Presenters © Harbinger Systems | www.harbinger-systems.com Prachi Kulkarni General Manager Technology Solutions Harbinger Systems Saru Sawaikar General Manager Marketing and Strategy Harbinger Systems
  4. 4. The Goal of a startup is to figure out the right thing, to build the thing that customers want and will pay for, as quickly as possible. - Eric Ries
  5. 5. Agenda • The strategy behind MVP (Minimum Viable Product) creation • Key factors-techniques in building MVP: Technical and Business factors • The best practices: – The industry best practices – Case study showcase how Harbinger has helped customers built great products (MVPs) in shortest time-to-market • Special offer for webinar attendees • Q&A © Harbinger Systems | www.harbinger-systems.com
  6. 6. What is a MVP? © Harbinger Systems | www.harbinger-systems.com
  7. 7. What is a MVP? © Harbinger Systems | www.harbinger-systems.com Differentiators Essential features Types of MVP Feedback Mechanism Target Audience Small version of the product Landing page/video Minimal Set of Features MVP
  8. 8. Need for MVP © Harbinger Systems | www.harbinger-systems.com Validation of product idea Validation of idea implementation Fail fast, learn and move ahead Attract investors-VCs Budget constraints Prioritization Risk minimization A large part of a startup’s success is based on its ability to test its target market, validate ideas, and showcase the business’s potential.
  9. 9. Key Factors in Building an MVP Business Factors © Harbinger Systems | www.harbinger-systems.com Aligned to the market need Map with target audience mind-set Clear understanding on the review-assessment parameters Consider the marketing plan Revisit, do you need an MVP?
  10. 10. Key Factors in Building an MVP © Harbinger Systems | www.harbinger-systems.com Technological Factors Essential and differentiating features Feasibility assessment- market-implementation-design Implementation platform- usually open source Attractive user interface and user experience Tightly coupled feedback loop
  11. 11. Steps in MVP Build up © Harbinger Systems | www.harbinger-systems.com Ideation • Market research: market need, size, competition, challenges Define the Target • Audience/Customer discovery • Set launch objective Feature definition • In cognizance to the target audience mind-set User Experience definition • In cognizance to the target audience mind-set Deployment • Feedback channels • Feedback assessment against launch objectives • Definition of clear product roadmap based on feedback • Continuous -Iterative development
  12. 12. Best Practices- I © Harbinger Systems | www.harbinger-systems.com Err towards ‘viable’ as the selection criteria It is a balance between the ‘correct product definition’ and the ‘time to-market’ Need Holistic thinking in assumptions, launch objectives and the target audience Validation through crowd-sourcing Feedback should be designed to encourage open ended comments- user experience, price check, however beware of misdirected feedback Feature creep of MVP should be discouraged
  13. 13. Best Practices- II © Harbinger Systems | www.harbinger-systems.com Implementation of MVP should be complete in maximum 1 to 1.5 month Cost in the range of $10,000- $20,000 Marketing techniques should be harnessed to take advantage of network effect- even for MVP You should not compromise on UI or product quality as this is not a PoC MVP has to be agile as we need to become the final product through scalability and extensibility Every product dream cannot be translated into MVP
  14. 14. Converting MVP to Product • MVP needs to be a promise of the final product • Product will be: © Harbinger Systems | www.harbinger-systems.com Further RoadmapAdditional features Marketing and Branding considerations Security and Performance considerations Essential + Differentiating Features + Nice-to- have features
  15. 15. Harbinger Case Studies in Creating an MVP © Harbinger Systems | www.harbinger-systems.com
  16. 16. Healthcare App for Wearable Devices © Harbinger Systems | www.harbinger-systems.com Target Audience – Mix of Healthcare professionals and patients (end-users) Age group of end-users –Mostly senior adults Launch Objectives Product Idea: Improving communication between Doctor and Patient through wearable devices Reason for MVP: Client wanted to validate the idea- to see the customer experience, need in market MVP Process Indirect Feedback on idea Feedback on implementation and features Feedback on overall ease of use and user experience
  17. 17. Healthcare App for Wearable Devices © Harbinger Systems | www.harbinger-systems.com New feature request / improvement – easy access to patient history New use case scenario: Urgent care or Emergency admissions - Patient can communicate with doctor before or while going to urgent care. This will further assist immediate treatment for patient Additionally got some feedback about preferred wearable devices. Technology choice was also made based on features well received by the end users All in all, successful MVP
  18. 18. Portal for Targeted Marketing of Services © Harbinger Systems | www.harbinger-systems.com Product Idea: Marketing efforts need to be targeted towards providing services to appropriate users. The user data is collected from third party portals. Scope involves massaging and parsing the data followed by further marketing workflow. Reason for MVP: Client wanted to simplify and automate the existing manual process, and see if it translates in improved end user reach. There was limited budget for this. MVP Process Existing Manual system Target Audience – People needing services Launch Objectives Indirect Feedback on idea See if there is potential on improving user reach Feedback on overall ease of use and user experience
  19. 19. Portal for Targeted Marketing of Services © Harbinger Systems | www.harbinger-systems.com MVP Targeted at users of multiple integrated portals and a limited number of end users Decision about MVP features was crucial as the manual system had many components and so need for many integrations Identified essential and differentiating features Recommended going for MVP for limited audience rather even though the ultimate aim is making the portal available in SaaS mode for other companies and users Technological feasibility was critical issue MVP served its purpose
  20. 20. Harbinger © Harbinger Systems | www.harbinger-systems.com An experienced tech partner can: Provide best-fit solutions to reach your desired goals Apply next generation technologies through rapid and Agile development methodologies Help in co-ideation and product assessment Let Harbinger Systems help you to get it right, the first time, every time!
  21. 21. Special Offer for Webinar Attendees © Harbinger Systems | www.harbinger-systems.com Special Offer Get 2 Hours Free Consultation from our Product Engineering Experts Discuss your MVP Idea today! Write to us at hsinfo@harbingergroup.com to avail this exciting opportunity.
  22. 22. Q&A © Harbinger Systems | www.harbinger-systems.com
  23. 23. Special Offer for Webinar Attendees © Harbinger Systems | www.harbinger-systems.com Special Offer Get 2 Hours Free Consultation from our Product Engineering Experts Discuss your MVP Idea today! Write to us at hsinfo@harbingergroup.com to avail this exciting opportunity.
  24. 24. Thank You! Visit us at: www.harbinger-systems.com Write to us at: hsinfo@harbingergroup.com Blog: blog.harbinger-systems.com Twitter: twitter.com/HarbingerSys (@HarbingerSys) Slideshare: slideshare.net/hsplmkting Facebook: facebook.com/harbingersys LinkedIn: linkedin.com/company/382306 © Harbinger Systems | www.harbinger-systems.com

×